RIYADH: Egypt’s Purchasing Managers’ Index reached 46.9 in February, signaling a steep downturn in the country’s non-oil economy, according to credit rating agency S&P Global.
It predicts PMI to stay firmly below the 50 neutral mark.
However, February’s PMI figure is up from January’s 45.5, which indicates a somewhat softer downturn.
“The latest PMI data for Egypt continued to signal a troubled market in February, but with some relief after a rocky start to the year,” said Senior Economist at S&P Global Market Intelligence, David Owen.
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